U.S. and Iran Agree to Halt Attacks and Meet in Qatar on Tuesday

The U.S. and Iran agreed to stop attacks on each other and hold talks in Qatar on Tuesday, according to sources familiar with the discussions. The accord came after Iran launched strikes on Kuwait and Bahrain earlier Sunday and threatened to end peace negotiations.

Futures tied to the Dow Jones industrial average rose 128 points, or 0.25 percent, on Sunday evening. S&P 500 futures gained 0.38 percent and Nasdaq futures added 0.35 percent. U.S. oil futures climbed 0.33 percent to $69.46 a barrel while Brent crude held near flat at $71.97.

President Donald Trump accused Iran of violating a two-week-old ceasefire and posted on Truth Social that further escalation could lead to the end of the Islamic Republic of Iran. Iran had created the Persian Gulf Strait Authority earlier this month and proposed fees for passage through the Strait of Hormuz.

Foreign Minister Abbas Araghchi said the memorandum signed by the two countries gives Iran sole authority over traffic in the strait.

“The management and full restoration of maritime traffic in the Strait of Hormuz is Iran’s responsibility,” he stated, according to Iranian state media. ” Gulf traffic data showed a convoy of tankers moving through the strait under escort with transponders active. The U.S.

Is observing Independence Day on Friday, July 3, so the Labor Department will release its June jobs report on Thursday. Wall Street expects payrolls to rise by 118,000, down from May’s gain of 172,000, with the unemployment rate steady at 4.3 percent.